Board Meeting Outcomes

The Board of Directors at its meeting held on 13th November 2026 (11:00 AM to 1:00 PM IST) considered and approved the following matters:

1. Unaudited Financial Results: Approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended 30th September 2026.

2. Limited Review Reports: Took on record the Limited Review Reports on the Unaudited Standalone and Consolidated Financial Results for the quarter and half-year ended 30th September 2026.

3. 36th AGM Notice: Approved the Notice convening the 36th Annual General Meeting for FY 2025-26 along with related matters.

4. Directors' Report: Approved the Directors' Report along with its annexures for FY 2025-26.

5. AGM Date and Time: Decided to convene the 36th AGM on Wednesday, 30th December 2026 at 11:00 AM (IST) through Video Conferencing/Other Audio-Visual Means.

6. Register Closure: Approved closure of Register of Members and Share Transfer Books from Thursday, 24th December 2026 to Wednesday, 30th December 2026 (both days inclusive).

7. Scrutinizer Appointment: Appointed Mrs. Geeta Servani, Practising Company Secretary, as Scrutinizer for remote e-voting process.

8. Remote E-voting Schedule: Approved remote e-voting period from Sunday, 27th December 2026 at 9:00 AM (IST) to Tuesday, 29th December 2026 at 5:00 PM (IST).

9. Management Reappointment: Considered and approved re-appointment of Dr. K. Koteswara Rao (DIN: 07167872) as Chairman and Managing Director for a further period of one year, subject to shareholder approval. The reappointment is effective from 13th November 2026.

Financial Results (Standalone)

All amounts in ₹ Lakhs, except EPS

Quarter Ended 30-09-2026 (Unaudited):

  • Revenue from operations: 6.00
  • Total income: 6.00
  • Employee benefits expense: 3.38
  • Finance costs: 28.95
  • Depreciation and amortization: 4.13
  • Other expenses: 4.07
  • Total expenses: 40.53
  • Profit before tax: (34.53)
  • Tax expense: 0.00
  • Profit for the period: (34.53)
  • Total comprehensive income: (34.53)
  • Basic EPS: (0.05)
  • Diluted EPS: (0.05)

Half-Year Ended 30-09-2026 (Unaudited):

  • Revenue from operations: 12.00
  • Total income: 12.00
  • Employee benefits expense: 6.75
  • Finance costs: 57.90
  • Depreciation and amortization: 8.27
  • Other expenses: 12.52
  • Total expenses: 85.43
  • Profit before tax: (73.43)
  • Tax expense: 0.00
  • Profit for the period: (73.43)
  • Total comprehensive income: (73.43)
  • Basic EPS: (0.10)
  • Diluted EPS: (0.10)

Comparative Figures:

  • Q2 FY26 (30-09-2025): Net loss of ₹38.84 lakh
  • H1 FY26 (30-09-2025): Net loss of ₹82.21 lakh
  • FY26 (31-03-2026): Net loss of ₹165.29 lakh

Balance Sheet Position (Standalone as at 30-09-2026)

Assets:

  • Property, plant and equipment: ₹301.40 lakh
  • Other intangible assets: ₹466.67 lakh
  • Intangible assets under development: ₹186.77 lakh
  • Investments: ₹9.49 lakh
  • Loans: ₹2302.04 lakh
  • Total non-current assets: ₹3266.36 lakh
  • Inventories: ₹3.40 lakh
  • Cash and cash equivalents: ₹5.32 lakh
  • Bank balances other than cash: ₹1.08 lakh
  • Other current assets: ₹95.16 lakh
  • Total current assets: ₹104.95 lakh
  • Total assets: ₹3371.31 lakh

Liabilities and Equity:

  • Equity share capital: ₹7577.00 lakh
  • Other equity: (₹8570.41) lakh
  • Total equity: (₹993.41) lakh
  • Borrowings (non-current): ₹721.71 lakh
  • Provisions (non-current): ₹2302.04 lakh
  • Total non-current liabilities: ₹3023.76 lakh
  • Borrowings (current): ₹1057.31 lakh
  • Trade payables: ₹7.93 lakh
  • Provisions (current): ₹133.09 lakh
  • Other current liabilities: ₹142.64 lakh
  • Total current liabilities: ₹1340.97 lakh
  • Total equity and liabilities: ₹3371.31 lakh

Legal and Regulatory Proceedings

1. Securities Appellate Tribunal (SAT): Matter heard on 23rd September, 16th October, and 29th October 2026 but not yet finalized.

2. Appellate Tribunal (ED), New Delhi: Matter listed on 2nd November 2026 and adjourned to 12th January 2027.

3. SBIRI/BIRAC: BIRAC filed petition at NCLT Hyderabad bench claiming outstanding interest. Matter heard on 25th September 2026, notice served on 5th November 2026. Management defending the case.

4. Nitin Didwania: Appeal filed against Bombay High Court Commercial Division order dated 8th July 2026 directing payment of ₹92,99,250/- with 6% interest. Awaiting hearing commencement.

5. Customs & Excise Department: No further development since last board meeting.

6. NCLT: Petition filed by Babaji Netralayya Pvt Ltd dismissed by NCLT Hyderabad on 5th November 2026. Notice served on 6th November 2026 regarding possible penalty under Section 65 of the Code. Management preparing defense.

7. Complaints: No complaints pending at beginning of quarter; no complaints received during quarter.

Consolidated Financial Results

The consolidated financial results mirror the standalone results exactly in all line items for both quarter and half-year ended 30th September 2026.

Auditor's Review

Statutory Auditors Ranganath Prasad & Co. (FRN: 151856W) conducted limited review and issued unqualified review reports for both standalone and consolidated financial results, stating nothing came to their attention suggesting material misstatement.

Other Information

  • Company CIN: L85195TG1990PLC011065
  • Number of equity shares: 757.70 lakh shares of ₹10 each